Cash discount is allowed on ______ repayment of debt
A. Lump sum
B. Prompt
C. Actual
D. None of them
Answer: Option B
Solution(By Examveda Team)
Cash discount is allowed on Prompt repayment of debt. It is cash discount it may be allowed or received. In case of discount allowed It is an Expense and in case of received it is an income.Related Questions on Accounting
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A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
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A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
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